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Splitting tournament costs & winnings

 
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SouthportJSC
2nd Mate


Joined: Mar 31, 2008
Posts: 30
Location: Pawleys Island SC

PostPosted: Sat May 31, 2008 8:21 pm    Post subject: Splitting tournament costs & winnings Reply with quote

Though my newbie status has been upgraded to Deck Hand, trust me I still have hundreds of newbie questions. Laughing

Getting ready to enter my first tourney, Tailwalker. My crew is a bunch of kids (fish hounds) Rolling Eyes from Charleston, some of whom may not have enough money to put into the pot to split the costs. I will be putting them up at my house, we will car pool to the marina, and they supply their own lunch and drinks.

In talking to people the ideal is split the costs/split the winnings, and maybe the boat gets a share too. I have a friend who is retired with no extra money for paying any costs, so he does not expect any winnings, though sometimes he does get a $200 tip if he behaves.

So the question is…what is the best and fairest way to handle this? BTW No I’m not big money!!

Thanks.
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SouthportJSC
2nd Mate


Joined: Mar 31, 2008
Posts: 30
Location: Pawleys Island SC

PostPosted: Mon Jun 02, 2008 7:10 am    Post subject: Reply with quote

Seems as as though the 11 folks that viewed this thread must have had broken keyboards. Confused

This from another Forum:

I have the good fortune [?] of fishing with my sons and nephews who are also in the growing stages of life. What I do for tournaments is give them the option: In or out!, and for what ever percent they want if they want in.
Unfortunately I have to feed them either way. It means they split the entry fees, calcutta,and bait costs. They only pay for fuel out of winnings if we win.
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oob241
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Joined: Oct 02, 2007
Posts: 56

PostPosted: Mon Jun 02, 2008 11:42 am    Post subject: Reply with quote

In these situations I usually just split it up amongst those that put in for the fees/calcutta. Although now with gas prices what they are that might be a new requirement.
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24' Mako -- Out of Bounds
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Chaos
2nd Mate


Joined: Sep 14, 2007
Posts: 39
Location: Charleston, SC

PostPosted: Mon Jun 02, 2008 5:14 pm    Post subject: Reply with quote

This is what I always did and came up with for a friend of mines boat. I always fished tournaments with him and found this to be the best way. This also included if we caught big fish to sell.

Since you are footing the whole bill (I assume) maybe just give the angler a small portion of the cut after all entry fees and cost are covered. This is what we do though.

1) all costs of of operating expenses were split among crew just like a regular fish day.

2) any monies gained covered all expenses first. 15% of remainder went to boat and the rest divided evenly amoungst all aboard. If monies gained were not enough to cover all cost then it discounted the operating expenses by that much for everyone.
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SouthportJSC
2nd Mate


Joined: Mar 31, 2008
Posts: 30
Location: Pawleys Island SC

PostPosted: Mon Jun 02, 2008 10:34 pm    Post subject: Reply with quote

Thanks to everyone for the input. I have taken all the suggestions and layed out options for the "boys" I will let you know what they all decide on.

Jim
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captom
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Joined: Jun 10, 2008
Posts: 2

PostPosted: Thu Jun 26, 2008 3:30 pm    Post subject: Sharing expenses/winnings Reply with quote

There are lots of ways to handle it. But whatever system the captain uses it should be made clear BEFORE the tournament so there are no hard feelings and no body feels they weren't treated fairly. My crew has always split expenses evenly and in the happy event that money is won--all expenses are paid first then the remaining money is divided evenly with the boat getting a share.
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